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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    901 Carey St Baltimore, MD 21223-3522

    • Manufacturing properties
    • 38,985 SF
    • 0.84 lot acres
    OFF-MARKET
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US40-2353867
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Wen's Foods, Inc. / Wholesaler / Food Manufacturer

    Property Details for 901 Carey St

    Year built
    1930
    Construction
    BRICK
    Lot size
    0.84 lot acres
    Property size
    38,985 SF
    Zone code
    R-8
    Property type
    Manufacturing properties
    APN
    21-04-0266B-040
    APU
    21040266B040

    Description

    This exceptional 38,985-square-foot industrial property, situated on a 0.84-acre lot in Baltimore's vibrant Pigtown neighborhood, presents a compelling adaptive reuse opportunity. The three-story building, constructed in 1930, offers significant potential for redevelopment. Its strategic location near Interstate 95, the 125-acre Carroll Park (complete with a golf course and jogging trail), Price-Rite Marketplace, the B&O Railroad Museum, and the Horseshoe Casino/Warner Street Entertainment District (including Topgolf, Paramount Baltimore, Checkerspot Brewing Company, and M&T Bank Stadium) provides unparalleled access to amenities and transportation. Zoned R-8, Multi-Family Residential District, this property allows for a maximum building height of 45 feet, opening up a range of residential development possibilities. The asking price is $2,800,000. This is a rare chance to acquire a substantial property in a rapidly growing area with significant upside potential. The property's size and zoning make it ideal for a variety of residential projects. Don't miss this opportunity to capitalize on the thriving Pigtown market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $570,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $755,000
      Market price range: $599k - $2.16M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore City
    State
    Maryland
    Longitude
    -76.6367
    Latitude
    39.2824
    CBSA code
    12580
    CBSA name
    BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,736
    $72,900
    $382,000
    $454,900
    -
    $72,900
    $382,000
    $454,900

    Comparable in this City

    • Value Estimation
      $4,250,000
      22,332 SF

      480 Brunswick St

      MANUFACTURING (LIGHT) • 22,332 SF
      480 Brunswick St, Baltimore, MD 21223-2745
      View Details
    • Value Estimation
      $370,000
      11,750 SF

      2781 Wilkens Ave

      MANUFACTURING (LIGHT) • 11,750 SF
      2781 Wilkens Ave, Baltimore, MD 21223
      View Details
    • Value Estimation
      $1,895,000
      64,300 SF

      330 Warwick Ave

      MANUFACTURING (LIGHT) • 64,300 SF
      330 Warwick Ave, Baltimore, MD 21223-1124
      View Details
    • Value Estimation
      $580,000
      37,770 SF

      2822 Edmondson Ave

      MANUFACTURING (LIGHT) • 37,770 SF
      2822 Edmondson Ave, Baltimore, MD 21223-1049
      View Details
    • Value Estimation
      $775,000
      74,820 SF

      229 Franklintown Rd

      MANUFACTURING (LIGHT) • 74,820 SF
      229 Franklintown Rd, Baltimore, MD 21223-1040
      View Details
    • Value Estimation
      $290,000
      5,031 SF

      1927 Fairmount Ave

      MANUFACTURING (LIGHT) • 5,031 SF
      1927 Fairmount Ave, Baltimore, MD 21223
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Baltimore Industrial Property

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      Baltimore Industrial Property: Prime Location

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      Baltimore Industrial Property for Sale

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      Industrial Warehouse with Outdoor Storage

      27,500 SF warehouse on 1.6 acres, fenced and secured.
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    • Contact for pricing
      3,850 SF

      Free-Standing Flex/Office Building For Sale

      3,850 SF flex/office building in Pigtown/Mt. Clare submarket.
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    • $1,250,000

      Baltimore Industrial Property for Sale

      Industrial property available for purchase in Baltimore, Maryland.
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    Similar Nearby for Lease

    • Contact for pricing
      16,200 SF

      Baltimore Warehouse Space Available

      16,200 SF warehouse space for lease in Baltimore.
      3101 Wilmarco Dr, Baltimore, MD 21223
      View Details
    • $4 SF/Yr
      11,000 SF

      Secured Warehouse Space Available

      Fenced warehouse with heavy power, dock, and drive-in doors.
      2201 Eagle St, Baltimore, MD 21223
      View Details
    • $5 SF/Yr
      24,000 SF

      West Baltimore Warehouse Space Available

      Warehouse space for lease in West Baltimore near Route 40.
      330 North Warwick Ave, Baltimore, MD 21223
      View Details
    • Contact for pricing

      Baltimore Warehouse/Distribution Space Available

      Warehouse/distribution space available for lease in Baltimore, Maryland.
      1101-1133 Wilso Dr, Baltimore, MD 21223
      View Details
    • $10 SF/Yr
      21,600 SF

      Baltimore Warehouse Space Available

      21,600 SF warehouse space for lease in Baltimore.
      1001-1031 Wilso Dr, Baltimore, MD 21223
      View Details
    • $9,000 /Mo

      2767 Wilkens Ave

      Industrial property in Baltimore, MD
      2767 Wilkens Ave, Baltimore, MD 21223
      View Details
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    901 Carey St
    Baltimore, MD 21223-3522
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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